Zinc prices on Thursday fell by Rs 1.50 to Rs 185.85 per kg in futures trade as speculators cut bets amid easing demand at spot market.
On the Multi Commodity Exchange, zinc contracts for May delivery moved down by Rs 1.50, or 0.80 per cent, to Rs 185.85 per kg in a business turnover of 3 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in physical market mainly weighed on zinc prices in futures trade here.
Lead
Lead prices on Thursday traded higher by 15 paise to Rs 153.15 per kg in futures trade as participants built up fresh positions driven by pick-up in spot demand.
On the Multi Commodity Exchange, lead for delivery in May edged up by 15 paise, or 0.10 per cent, to Rs 153.15 per kg with a business volume of 2 lots.
Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly kept lead prices higher.
Copper
Copper futures on Thursday traded 0.18 per cent lower at Rs 451.55 per kg as speculators reduced their exposure on weak spot demand.
On the Multi Commodity Exchange, copper contracts for January delivery fell by 80 paise, or 0.18 per cent, to Rs 451.55 per kg in a business turnover of 2,593 lots.
Similarly, copper contracts for February delivery traded lower by 65 paise, or 0.14 per cent, at Rs 448.60 per kg in a business turnover of 230 lots.
Traders said weak demand in spot market mainly pushed down copper prices here.
Nickel
Nickel futures on Thursday declined by Rs 10.60 to Rs 1,004.90 per kg due to reducing of positions by speculators amid sluggish demand at the spot market.
On the Multi Commodity Exchange, nickel contracts for January delivery fell by Rs 10.60, or 1.04 per cent, to Rs 1,004.90 per kg with a business turnover of 3,121 lots.
Similarly, nickel contracts for February delivery dropped by Rs 11.50, or 1.15 per cent, to Rs 987.40 per kg in 315 lots.
Analysts said subdued demand in spot market mainly led to fall in nickel futures prices here.
Source: Economic Times
